Over the years, four alternatives have been suggested for constructing the financial statements for public colleges and universities These alternatives include all of the following except Mutiple Choice Adopt FASB's requirements so that all colleges and universities (public and private) prepare comparable Snancial Apply a more tradtional model focusing on fund fnancial statements and the wide variety of funds that such schools often have to maintin Crease an entirely new set of financial statements designed specificaelly to meet the unique needs of public coleges and universes ption command command option